In the trading week starting February 12, 2024, anticipate a bullish momentum for Gold, validated by rebounds from RSI support and the upper border of a downward channel. A drop below 1925 suggests a bearish trend, targeting levels below 1875. Conversely, a breach of resistance at 2105 confirms bullish sentiment, potentially driving prices towards 2265. Traders should closely monitor RSI trend line tests for further insights.
- A potential bounce off the RSI support line, signaling bullish momentum for Gold prices.
- Confirmation of an uptrend with a break above the resistance at 2105, indicating further price appreciation.
- Testing of the RSI trend line favoring price increases. However, a breakdown below 1925 could invalidate bullish sentiments, signaling a decline towards 1875.
